Euroseas (NASDAQ:ESEA) Stock Rating Lowered by Zacks Research

Euroseas (NASDAQ:ESEA) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the company. Wall Street Zen upgraded Euroseas from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Alliance Global Partners reiterated a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Finally, Weiss Ratings lowered Euroseas from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Euroseas currently has an average rating of “Hold”.

Euroseas Trading Up 4.5%

NASDAQ:ESEA opened at $79.39 on Wednesday. The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $560.49 million, a PE ratio of 4.18 and a beta of 0.45. The firm’s 50 day moving average is $69.13 and its 200 day moving average is $65.82. Euroseas has a 12 month low of $48.89 and a 12 month high of $79.48.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.26 by $0.44. Euroseas had a return on equity of 27.55% and a net margin of 58.31%.The business had revenue of $55.84 million for the quarter, compared to the consensus estimate of $56.61 million. Sell-side analysts expect that Euroseas will post 18.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ESEA. Bank of America Corp DE grew its holdings in Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after buying an additional 1,756 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Euroseas in the second quarter valued at approximately $226,000. Jump Financial LLC purchased a new position in Euroseas during the second quarter valued at approximately $260,000. Raymond James Financial Inc. bought a new stake in Euroseas during the 2nd quarter worth approximately $870,000. Finally, Jane Street Group LLC bought a new stake in Euroseas during the 2nd quarter worth approximately $259,000. Institutional investors own 6.27% of the company’s stock.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.